The Philippine Council for Agriculture, Aquatic and Natural Resources Research and Development of the Department of Science and Technology (DOST-PCAARRD) recently inked its Memorandum of Understanding and Usufruct Agreement with the Licensing Executives Society Philippines (LES Philippines) in a bid to strengthen and intensify efforts in bringing science, technology, and innovations to its intended beneficiaries.
The signing was conducted on September 29, 2022 at the DOST-PCAARRD Innovation and Technology Center (DPITC), PCAARRD. The event was streamed via Facebook Live and Zoom.
“The Council recognizes the potential of private-public partnership with LESP in advancing technology licensing and technology transfer,” said DOST-PCAARRD Executive Director Reynaldo V. Ebora.
Aside from Dr. Ebora, the event was attended by DOST-PCAARRD-TTPD Director Noel A. Catibog; LES Philippines President, Atty. Bayani B. Loste; and his colleagues, Atty. Roberto N. Batungbacal and Atty. Venich Jammin Ramzel A. Pedron.
“This agreement came at the most opportune time. First, the operationalization of the technology commercialization act has come into fruition as PCAARRD continues to amass a robust technological portfolio. Second, the law of the innovative startup act and Philippine Innovation Act in 2019, confirm that the correct path to development is to bring innovation to startups and MSMEs,” said LES Philippines President Loste.
The partnership between the two parties has been developing prior to the activity. Through this milestone, the collaboration is expected to intensify by pushing for more productive engagements.